Subscribe Login
DE4CC0DE-5FC3-4494-BCBF-4D50B00366B5
Retail

Circle K Owner Couche-Tard Sees Revenue Up In Third Quarter

By Steve Wynne-Jones
Share this article

Alimentation Couche-Tard, which operates the Circle K and Couche-Tard forecourt banners, has reported a 8.0% increase in revenue in the third quarter of its financial year, to $20.1 billion (€18.9 billion).

The group said that its improved performance was largely due to higher average fuel prices, however its merchandise and services division, which includes its retail operations, also saw sales up.

Merchandise And Services

Total merchandise and service revenues for the third quarter of were $5.0 billion (€4.7 billion), an increase of $167.3 million, the group said.

Same-store sales increased by 4.8% in the US, by 3.5% in Europe (and other regions) and by 2.3% in its home market of Canada – the latter driven by the group's 'Fresh Food, Fast' initiative, as well as a diversified offer in the beverage category.

Gross profit for the third quarter came in at $3.4 billion (€3.2 billion), a 4.3% increase compared to the corresponding period the previous year.

ADVERTISEMENT

'Maintaining Cost Discipline'

"As our markets across the globe, especially those in Europe, continue to face persistently high inflationary conditions, we have remained focused and committed to delivering a strong and consistent value to our customers and maintaining cost discipline in our operations," commented Brian Hannasch, president and CEO of Alimentation Couche-Tard.

"In convenience across the network, we had notable sales in our food program as well as with our private brand items, both offering high quality at lower price points."

During the quarter, the group entered into a binding agreement to acquire the Big Red Stores brand in Arkansas, a deal that is expected to close in the first half of calendar year 2023, it said.

Read More: Couche-Tard Invests Half Of Circle K Venture Fund In Startups

© 2023 European Supermarket Magazine – your source for the latest Retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.

Get the week's top grocery retail news

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our terms & conditions and privacy policy. You can unsubscribe at any time.
Enjoy unlimited digital access for 30 days
Get exclusive access to the latest grocery retail & FMCG news, interviews with industry leading executives, and expert analysis on the trends shaping the sector today
Enjoy unlimited digital access for 30 days
Enjoy unlimited digital access for 30 days
Get exclusive access to the latest grocery retail & FMCG news, interviews with industry leading executives, and expert analysis on the trends shaping the sector today
Enjoy unlimited digital access for 30 days